Inventory The net income per books of Bright Star Co. was determined without any knowledge of the following errors. 2016 year was Bright Stars first year in business. No dividends have been declared or paid. Year Net Income per Books Error in Ending Inventory 2016 $110,100 Understated $55,000 2017 104,000 Overstated 34,500 2018 107,500 Understated 11,000 2019 112,000 No error 2020 107,000 Overstated 25,500 Instructions: Complete the chart below to show the adjusted net income figure for each of the five years after taking the inventory corrections into account. Year Net Income per Books Overstatement Jan. 1 Understatement Jan. 1 Overstatement Dec. 31 Understatement Dec. 31 Corrected Net Income